In a variety of subsea well related operations, the use of a submersible pump can be beneficial for producing fluid or for performing well servicing procedures. However, the installation and retrieval of submersible pumps to/from subsea wells are difficult procedures. Semi-submersible drilling rigs can be used to deploy, install and retrieve submersible pumps, but the use of such drilling rigs creates undesirable complexities, costs, and other difficulties that detract from the desirability of employing the submersible pump.